SHORT-TERM (today and 5 days out)
For Friday, both 2162.75 and 2146.00 can firmly contain intraday activity, beyond which the next notable level is expected intraday. Upside today, pushing/opening above 2162.75 signals 2178.00, able to contain session strength. Pushing through 2178.00 allows 2189.00 intraday, able to contain strength into later next week and the level to settle above for allowing the targeted 2220.00 formation over the same time horizon. Downside Friday, breaking/opening below 2146.00 signals 2134.00, able to contain session weakness. A settlement today below 2134.00 indicates 2119.25 on Monday, able to contain selling into August activity and above which 2220.00 remains a 3-5 week target.
